TASE -- the Week in Review: November 8-12
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TEL AVIV, Israel--(Business Wire)-- After two weeks of descending prices and profit-taking, during the second week of November the Tel-Aviv Stock Exchange (TASE) rose in all leading indices, in keeping with the positive trend in international financial markets. The TA-25 index, which increased 3% over the week, completed a cumulative year-to-date surge of 61%. The TA-75 index gained 4%, bringing its cumulative year-to-date return to 139%. This stellar performance can be attributed to the sharp increase in prices earlier this year of shares involved in the discovery of gas on two sites off Israel`s Mediterranean shore. Leading risers this week were in the major finance companies advancing 5%, while the large real estate and hi-tech companies share prices rose only by 1.5%-2%. An interested party shareholder completed this week the selling of 18% of "Bezeq", a telecommunications company (whose shares are included in the TA-25 index), to institutional investors at the sum of US $1 billion was completed this week. The Israeli treasury raised an additional US $290 million this week in local government bond issues. The government raised about US $15.7 billion since the beginning of the year, a sum slightly higher than the amount raised during the entire year of 2008. About TASE: Established in September 1935, the Tel-Aviv Stock Exchange is Israel`s sole stock exchange, offering an increasingly sophisticated range of products to investors, including equity, corporate bonds, treasury bills and notes, index products and derivatives. The Tel-Aviv Stock Exchange features 627 companies listing equities, 345 index-tracking products, 37 series of government bonds, 578 series of corporate bonds and 1136 mutual funds. As of September 2009, the exchange`s market capitalization in equities was over US$200 billion. In recent years, the exchange has enhanced its international presence, signing Memorandums of Understanding with the London Stock Exchange, NASDAQ, the Shanghai Stock Exchange and NYSE-Euronext. Visit the Tel-Aviv Stock Exchange's Website www.tase.co.il Grayling Alistair Scott or Jonathan Shillington, 020-7255-1100 or TASE Idit Yaaron or Orna Goren, 972-3-5677564/405 Copyright Business Wire 2009
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